02/12/2001
TRUSTEES OF THE EMPLOYEES' PENSION FUND MEETING
CITY OF CLEARWATER
February 12, 2001
Present: Brian J. Aungst Chair
J. B. Johnson Vice-Chair/Trustee
Ed Hart Trustee
Robert Clark Trustee
F. David Hemerick Trustee
Also present: William B. Horne II Interim City Manager
Pamela K. Akin City Attorney
Lee Dehner Pension Trustees Attorney
Paul O'Rourke Human Resources Administrator
Cynthia E. Goudeau City Clerk
Brenda Moses Board Reporter
The Chair called the meeting to order at 1:07 p.m. at City Hall.
To provide continuity for research, items are in agenda order although not necessarily
discussed in that order.
ITEM #2 - Approval of Minutes:
Trustee Johnson moved to approve the minutes of the January 16, 2001, meeting, as
motion
recorded and submitted in written summation by the City Clerk to each Trustee. The
carried
was duly seconded and unanimously.
ITEM #3 - Request for Acceptance into Membership:
The Human Resources Administrator presented the recommendation of the Pension
Advisory Committee to approve membership for the employees listed below:
Richard Clayton, Maurice Hunter, Beverly Ice, Christopher Potts, & Melanie Hasburgh
Trustee Hart moved to accept the recommendation of the Pension Advisory Committee.
motioncarried
The was duly seconded and unanimously.
ITEM #4 - Request for Pension:
The Interim City Manager presented the recommendation of the Pension Advisory
Phillip Gatewood & Peter Verhoeven regular pensions
Committee that be granted under
Section(s) 2.393 and 2.397 of the Employees' Pension Plan.
Phillip Gatewood was employed on December 2, 1974, and his pension service credit is
effective on May 25, 1975. His pension will be effective February 1, 2001.
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Based on an average salary of approximately $36,693 per year over the past 5 years,
the formula for computing regular pensions, and Mr. Gatewood's selection of the 50% Joint &
Survivor Annuity, this pension will approximate $26,881 annually.
Peter Verhoeven was employed on January 17, 1972, and his pension service credit is
effective on December 2, 1979. His pension will be effective February 1, 2001.
Based on an average salary of approximately $49,041 per year over the past 5 years,
the formula for computing regular pensions, and Mr. Verhoeven's selection of the Joint &
Survivor Annuity, this pension will approximate $28,527 annually.
These pensions were approved by the PAC on January 11, 2001. Section 2.393 (p)
provides for normal retirement eligibility when a participant has reached age 55 and completed
20 years of credited service, has completed 30 years of credited service, or has reached age
65 and completed 10 years of credited service. Section 2.393 (p) also provides for normal
retirement eligibility when a participant has completed 20 years of credited service in a type of
employment described as “hazardous duty” and further specifically defines service as a Fire
Support Manager as meeting the hazardous duty criteria. Mr. Gatewood qualifies under the
age 55 and 20 years of service criteria and Mr. Verhoeven qualifies under the hazardous duty
criteria.
Trustee Johnson moved to accept the recommendation of the Pension Advisory
motioncarried
Committee. The was duly seconded and unanimously.
ITEM #5 - Other Business – None.
ITEM #6 - Adjournment:
The meeting adjourned at 1:08 p.m.
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